question archive To settle a $770 invoice, Anna can pay $760 now or the full amount 45 days later
To settle a $770 invoice, Anna can pay $760 now or the full amount 45 days later
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To settle a $770 invoice, Anna can pay $760 now or the full amount 45 days later.
a. Which alternative should she choose if money can earn 9 3/4%
multiple choice
a - Pay $760 now
b - Pay full amount 45 days later
b. What rate would money have to earn for Anna to be indifferent between the alternatives? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.) Rate ______ %
Option 1
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Option 2
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